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Omar Venerio
Omar Venerio
Articles (1575) 

Wall Street High Monday

Estée Lauder reports 14.2% revenue growth

U.S. stock markets were trading higher Monday morning ahead of the stabilization of Turkey’s lira as well as the U.S.-China geopolitical trade discussions.

Shares of The Estée Lauder Companies Inc. (NYSE:EL) jumped on Monday morning after the company posted fourth-quarter adjusted diluted earnings per share of 61 cents on revenue of $3.3 billion, reflecting 14.2%growth. It beat earnings estimates by 5 cents and revenue expectations by $50 million.

The company posted net sales growth in most brands and across-the-board gains in all geographic regions and product categories. Net sales in the Americas increased due to growth in Canada and Latin America. Net sales also increased in the Balkans, India, China and Hong Kong. The company also reported operating income of $277 million, a 20% increase from $230 million in the prior-year quarter.

Looking ahead, the company expects net sales to increase between 5% and 6%. Excluding special items, net sales are projected to grow between 9% and 10%. Diluted net earnings per share are projected to be between $1.07 and $1.12. Excluding restructuring and other charges, diluted net earnings per share are expected to be between $1.18 and $1.22.

Gainers

Losers

Global markets

The main European stock markets traded in the green.The U.K.'s FTSE 100 advanced 0.43%, France's CAC 40 gained 0.65%, Germany's Dax jumped 0.99% and Spain's Ibex 35 rose 0.54%.

In Asia, Japan's Nikkei 225 retreated 0.32%, India’s BSE Sensex gained 0.87%, Hong Kong's Hang Seng rose 1.41% and China's Shanghai Composite rose 1.11%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor and Area Head of Finance. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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